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VW has received several tentative bids for Ducati

Italy's Benetton family is vying with motorbike firms and buyout funds for control of Italian motorcycle brand Ducati, which is being sold by Germany's Volkswagen, sources involved in the process told Reuters. Volkswagen, whose Audi division controls Ducati, has received several tentative bids with the Benetton family's investment vehicle Edizione Holding valuing the Monster motorbike maker at $1.2 billion, one of the sources said. As well as Edizione Holding, U.S. buyout fund Bain Capital, which owns a stake in Ski-Doo snowmobiles maker BRB, and two Indian motorbike firms, Eicher Motors and Bajaj Auto, have also bid for Ducati, the sources said. Indian carmaker Eicher controls Royal Enfield, a motorcycle brand established in 1893 which ranks as one of the oldest. Strategic bidders also include U.S. automotive firm Polaris Industries, which earlier this year said it would wind down its struggling Victory Motorcycle brand. A shortlist of bidders for a second stage of the auction could be selected as soon as Saturday, two of the sources said. Volkswagen adviser Evercore has a long list of bidders including private equity funds such as Ducati's previous owner Investindustrial, CVC Capital Partners, Advent and PAI, all hoping to outbid industry players, the sources said. If it gets to the second round, Edizione Holding could seek to form a consortium with a financial investor, two of the sources said, in a bid to secure control of Ducati, whose racers have won the Superbike world championship 14 times, with Carl Fogarty and Troy Bayliss its most successful riders. Audi, Edizione Holding, Investindustrial, Advent and PAI declined to comment, while the other interested groups were not immediately available for comment. PRICING CHALLENGES For some buyout funds, Ducati's valuation of up to $1.4 billion – which sources said is based on a multiple of more than 10 times its core earnings of roughly 100 million euros – is a tall order as they lack the synergies that some motorbike makers could achieve. But Investindustrial founder Andrea Bonomi, who sold Ducati to Audi for about 860 million euros in 2012, is serious about a comeback, one of the sources said. China's Loncin Motor was among a group of industry players that initially showed interest in Ducati, alongside Harley-Davidson. The latter has, however, decided against making a bid due to Ducati's price tag, while it could not be established if Loncin Motor had carried on bidding.

The hot hatch without a hatch | 2017 Audi S3 First Drive

The 2017 Audi S3 is a car without equal. That might end up on a billboard, but it's actually meant quite literally, as in the S3 has no direct competitor. Other compact luxury sedans, of which there are few, can't match its performance. The BMW 2 Series has two doors, plus it's rear-drive. The bonkers Mercedes-AMG CLA45 is on another power and price planet altogether. The mechanically related VW Golf R isn't a luxury car and has a hatch instead of a trunk. And so the S3 exists as an oddity. But it's a fun oddity, and a well-made one too. For 2017, it receives a number of noteworthy changes to keep it fresh and technologically relevant. Most also apply to the 2017 Audi A3, the car on which it's based, which itself gets a new 2.0-liter turbo four base engine in place of the old 1.8-liter. Paired with front-wheel drive and essentially a variation of the Quattro model's carry-over 2.0-liter, it produces 186 horsepower (up from 170) and returns 29 mpg combined (up from 27). That revamped A3 wasn't on hand for the press drive in Durham, North Carolina, so we were not-at-all stuck with the 2017 S3. Its own 2.0-liter turbo four is unchanged, still pumping out 292 hp and 280 pound-feet of torque through a six-speed DSG dual-clutch automatic transmission. Audi says it'll hit 60 mph in 4.7 seconds, which is a full second quicker than the 220-hp A3 Quattro as well as about a half-second quicker than the Audi A4 Quattro. That bonkers CLA45 is around the four-second mark. Indeed, having so much power in such a small sedan is a novel and grin-inducing experience. The throttle response is sharp enough in standard mode, but tap the dash-mounted Audi Drive Select toggle to choose Dynamic, and it comes even more alive, eagerly shooting the S3 forward with the merest hint of a toe wiggle. The DSG is also quite happy to downshift when called upon, either by said toe or by itself when under braking. Blipping down two gears when heading into a corner is commonplace here, as are the sharp little barks that emanate from the S3's quad exhaust tips. And then there's the S3's Quattro all-wheel drive, which has been updated for 2017 with the same performance-oriented system found in the TT and TTS. Although its front/rear torque split is constantly changing based on current traction conditions, it nevertheless skews towards a rear torque bias to the point that, when in Dynamic mode, it won't reduce power in oversteer situations.

Volkswagen Group recalls 281,505 VWs and Audis for fuel leaks

The Basics: Volkswagen Group is recalling 281,505 total Volkswagen and Audi brand products in the United States for potential fuel leaks. Certain versions of the Audi A3, A6, A7, Q5, and Q7 are affected. In addition, some versions of the Volkswagen Golf, Golf SportWagen, and Golf GTI fall under the recall. It's unclear if vehicles outside of the United States will be recalled as well. The Problem: There are actually three separate recalls for three separate issues that all pertain to leaky fuel. All three recalls were issued simultaneously. The risk of unintended ignition is the main concern here. First off, 2012-2013 Audi A6 and Audi A7 models [28,249 cars] are being recalled because of a degrading fuel hose in the engine compartment. Secondly, 143,214 gas-powered 2009-2012 Audi Q5s and 2007-2012 Audi Q7s are being recalled. The fuel cap may crack on these vehicles, leaking fuel. Finally, 110,042 total units of the 2015-2016 Volkswagen Golf, Golf SportWagen, GTI, Audi A3 sedan, and A3 Cabriolet will be recalled because of fuel leaking from the evaporative emissions system. Injuries/Deaths: According to Reuters, Volkswagen has reported no injuries or deaths related to the fuel leaks. In addition, the company has said there have been no fires started due to the leaks. The Fix: Three separate issues means three separate fixes. Volkswagen and Audi will be reaching out to customers soon, though the parts aren't yet available. For the A6 and A7, Audi will simply replace the under hood hose. For the Q5 and Q7, dealers will clean the pump flange and install a butyl rubber band to protect the pump. Finally, the affected Golf and A3 models will have the suction cup in the emissions system replaced. If you own one: Volkswagen and Audi will begin contacting owners starting next month regarding a fix. Related Video: News Source: NHTSA, Reuters Recalls Audi Volkswagen